Nursing Student Loan

The Nursing Student Loan is a Federal loan based on financial need.

  • Students must be accepted/enrolled in an undergraduate degree program as a nursing major, pursuing their first bachelor's degree.  
  • Nursing Loans are currently not available to on-line students due to limited funding of this program.
  • All Villanova students must follow and complete the appropriate instructions to apply for financial assistance.
  • The Nursing Loan is a 5% interest loan and becomes payable nine months after leaving the University, or nine months after the student is no longer enrolled at least half-time.  More information about the conditions of this loan is available on the campusoncall website.
  • Entrance and Exit interviews for the Nursing Student Loans are required by federal law.
  • No payments will be made to the student's account until all requirements, including Promissory Note and Entrance Interview, have been completed by the student borrower.
  • A hold may be placed on a student's transcript if the student does not complete the exit interview.
  • If you have any questions about the Nursing Student Loan, please send us an email with your question, name, and Villanova University number to finaidloan@villanova.edu

 

Deferment Eligibility

  • Federal regulations require that students who have changed their major from Nursing to another curriculum be placed into a 9 month grace period. Borrowers are required to begin making repayment on their Federal Nursing Student Loan(s) when the grace period ends. 
  • Borrowers may obtain deferments if they participate in certain activities. The chart below briefly identifies those activities and the corresponding maximum period of time for which the borrower can be in deferment.
Type of Activity Maximum Number of Years for Deferment
Active duty in the uniformed services Up to 3 years
Peace corps volunteer Up to 3 years
Full-time or half-time enrollment in a collegiate nursing program leading to a baccalaureate degree or graduate degree in nursing; or Pursuing advanced professional training in nursing, or training  to become a nurse anesthetist Up to 10 years

Other Lending Options

Villanova Tuition Payment Plan
For full time undergraduate students, the Villanova Tuition Payment Plan, offered through Tuition Management Systems (TMS), allows you to spread your balance out over 10 months for a small fee.

TMS also offers a plan for students in Graduate and Part time studies programs to pay over 3 monthly payments in the amount of your choice.

Private Educational Loan Programs
Private Educational Loans are administered by private lenders and there are a variety of lending institutions that offer these. You should first apply for a Direct Subsidized/Unsubsidized Loan and then consider the Direct PLUS Loan (if the student is dependent) or the Direct Graduate PLUS (if the student is a graduate student) and then, if additional funding is needed, apply for one of these loans.